Danube has stepped into the real estate sector with its first project – the $136-million Dreamz
DANUBE Group, a Dubai-based conglomerate that enjoys an annual turnover of Dh2 billion ($544 million), has announced its foray into the UAE’s real estate sector with the launch of Danube Properties while unveiling its first residential project – Dreamz by Danube.
Located within Al Furjan community in Dubai, the Dh500-million ($136 million) project comprises 171 luxury townhouses set amidst a lush green landscaped neighbourhood over an area of 700,000 sq ft. The three- and four-bedroom townhouses will have built-up areas ranging between 2,500 and 3,000 sq ft.
The project has been designed by Edmac Engineering Consultant.
With prices starting at Dh2.5 million ($680,650), the modern villas feature contemporary designs and quality finishes including Italian marble, parquet flooring, luxury sanitary ware, designer faucets by Milano, fully-fitted modular kitchens, and landscaped gardens with gazebos. Construction work is expected to start by October and will be completed by mid-2016.
“The launch of Danube Properties comes following a careful study of the needs of the UAE’s property market where the combination of quality, affordability, developer’s commitment and timely delivery is a rarity,” says Rizwan Sajan, founder and chairman of Danube Group, the UAE’s biggest building materials supplier. “Being in the building material business, we will be able to offer the best prices and that value will be offered to the customer.
“The move is also a reflection of our firm commitment to the UAE market, where we are re-investing our hard-earned resources to help the real estate market expand further.”
Sajan continues: “Following the UAE’s historic win to host the Expo 2020 in Dubai, the real estate sector has clearly rebounded with investors returning to the market in large numbers. With property prices returning to a level that is ideal for both developers and investors, we feel the time is appropriate for our entry into real estate development.
“As an astute business entity, we take great care in our business decisions, which has helped us navigate through the financial crisis of 2008-09 that has made our company more resilient and sustainable in the long run. While we enter the real estate market, we remain responsible and careful in our approach and apply the same guiding principles that help us grow even in a difficult situation.”
Danube’s foray into the real estate market comes at a time when the property market is resurgent, backed by sound macro-economic fundamentals. Real estate and land transactions jumped 53 per cent last year to Dh236 billion ($64.65 billion), according to the Dubai Land Department.
The launch of Danube Properties comes five years after the group rolled out its home furnishing retail chain Danube Home, the re-branded version of Danube Buildmart, a value chain in real estate, construction and home comfort. Legendary Indian cricketer and interim BCCI (Board of Control for Cricket in India) president Sunil Gavaskar has been declared as Danube’s brand ambassador.
Since its inception in 1993, Danube has played an instrumental role in sourcing the best materials from across the world to help the UAE’s construction and real estate sectors, having supplied both small apartments as well as skyscrapers such as the Burj Khalifa, the world’s tallest tower.
From a small trading firm, Danube has grown into one of the largest building materials company in the region, with its diversified branches worldwide including in the UAE, Oman, Bahrain, Saudi Arabia, Qatar and India, in addition to procurement offices in China and Canada. Danube has a team of 1,800-plus people working in strategic locations across the GCC and India.
The launch of Danube Properties will help Danube Building Materials leverage its strength as the UAE’s largest building materials supplier, which has more than 25,000 different types of building materials and interior products under one roof and offers value-added services at all its showrooms across the Middle East and India. The company operates from its head offices in Jebel Ali Free Zone (Jafza) with logistics facilities across the region spread across 5 million sq ft and a kiln drying facility, factory and warehouses of the group.
“As the most preferred building materials and interiors supplier, we are already aware of the different tastes of customers in the market, which will help us to leverage our experience into the real estate sector and pass on the benefits of our expertise to our customers,” Sajan concludes.